Where to invest this money?

[fryman]

I have 1 million pesos I'd like to invest. My plan is to buy a small house or apartment, fill it up with cheap furniture and rent it out to tourists.

Which colonias would be good for this? I know that with 1 milion I won't be getting a beachfront property, but would like something not so far away from the main tourist spots.


Is playacar fase 2 a good place? I've seen several properties that I could afford there.

[beer_dude]

You might try getting in touch with Michelle.

Playa del Carmen Real Estate - Condos, Villas and land for sale in Mexico

[fryman]

Yeah, I'll check her page, but would like to hear more suggestions from people that live there

Thanks bud

[calgaryguy]

If you can get into Phase 2 at Playacar for one million pesos that is a great deal and a very nice location and would rent better than in other neighbourhoods that are priced in that range (mostly west of 307).

[beer_dude]

Originally Posted by fryman

Yeah, I'll check her page, but would like to hear more suggestions from people that live there

Thanks bud

Actually, Michelle does live in Playa and has been in the real estate biz for years. Well respected on Playa.info

[Anna Banana]

Yes Michele and Rob are great real estate agents, they have a loto of properties on their website

Originally Posted by beer_dude

Actually, Michelle does live in Playa and has been in the real estate biz for years. Well respected on Playa.info

[absoluteAL]

Originally Posted by fryman

I have 1 million pesos I'd like to invest. My plan is to buy a small house or apartment, fill it up with cheap furniture and rent it out to tourists.

Don't plan on living off of your rental income from tourists or any great appreciation in the near future. It ain't going to happen.

[snappysammy]

Originally Posted by absoluteAL

Don't plan on living off of your rental income from tourists or any great appreciation in the near future. It ain't going to happen.

depends on the location and price, debbie downer

i would like to suggest you donate the money to angel notion
we will provide your medical and dental care and you will have a leg up at the pearly gates

there's nothing like saving the lives of children to put a positive spin on your attitude

angelnotion.org

[absoluteAL]

Originally Posted by snappysammy

depends on the location and price, debbie downer

I guess if anybody knows.....it would be you

[fryman]

I don't plan to live on it, but would like to use the rental money to help me pay for a mortgage for a nice house where me and my wife would be living in.

[absoluteAL]

Originally Posted by fryman

I don't plan to live on it, but would like to use the rental money to help me pay for a mortgage for a nice house where me and my wife would be living in.

Are you planning on living (buying a house in Playa or B.C.)? Asking because mortgages are hard to come by here in Playa.

[Sue]

Have you been to Playa before? I noticed that you were asking around for a place to stay for ONE WEEK in order to get to know the city.

[rob mackay]

get something down town fryman,,,there are alot of condos for sale on 20th and 10th ave,,,,,they rent well too...

[rainmaker]

Originally Posted by fryman

I have 1 million pesos I'd like to invest. My plan is to buy a small house or apartment, fill it up with cheap furniture and rent it out to tourists.

Which colonias would be good for this? I know that with 1 milion I won't be getting a beachfront property, but would like something not so far away from the main tourist spots.


Is playacar fase 2 a good place? I've seen several properties that I could afford there.

As the saying goes.."you get what you pay for"
1 million pesos is approximately $82,000 USD..
Good Luck!!!

[fryman]

"you get what you pay for"

As I said, I don't expect a mansion with beachfront views. Anything small near the tourist spots would be good.
I am currently talking with someone selling a 2 bedroom apt. in Playacar II for 100k USD which I am sure could go down in price, so there are penty of places to choose from. Also saw a smaller unit there for sell for about 700k pesos, but I would raher look for something closer to the 5th av.

Have you been to Playa before?

Yup, I've been there several times, love the place. Currently stuck in Guadalajara, which must be one of the worst places to live in Mexico

Are you planning on living (buying a house in Playa or B.C.)? Asking because mortgages are hard to come by here in Playa.

Yup. I actually have double nationality, British and Mexican, so getting a mortgage would be no problem since I have excellent buro de credito and a long history banking with Banamex